LAW ON OBLIGATION AND CONTRACTS Identification: A source of liability wherein proper care was not exercised in the performance of an obligation. The standard of care which the debtor must exercise in the performance of his obligation not expressed by law or agreement. Needed to constitute the debtor liable for legal delay or default.
Laws imposed by the State A situation wherein a person receives something when he has no right to receive it and thus, he has an obligation to return it. Obligations based on laws imposed by the State. A situation wherein there is an unauthorized management of an abandoned business or property. It is a rule of conduct, just, obligatory and laid down by a legitimate power for common observance and benefit. A source of obligation
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